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Economic Depression of the 2020s (The Pearl World)
The Economic Depression of 2020s is the name given to a worldwide economic crisis that resulted in a major shift in International Politics and a change in the geography and life itself. Beginnings Reagan, The Bushes and Christie The root of the 2027 Crisis is believed to have been traced back to The Oil Embargo of 1979, and the Iran Hostage Crisis. The economic crisis of the time, dubbed Stagflation, damaged the West. Ronald Reagan, who had been elected President, introduced Trickle-Down Economics, which lowered taxes on the Wealthy, hoping that it would lead to job growth. This however, backfired. Deregulation, combined with Outsourcing and a now heavily taxed Middle Class led to the Income Inequality Gap. The Policies would continue under the next six Presidents and destroyed the U.S. economy, as we knew it. The Decline began in 2017 when President Donald Trump lowered income taxes on the wealthiest Americans by 20%, resulting in a massive economic crisis that led to a massive increase in Income Inequality. 2024 Olympics When Paris hosted the 2024 Olympics, It had not realized that the debt it would be dragged into would be enormous. The Renovations made to two soccer stadiums, the construction of an Olympic complex, and the renovation of an 45 year-old facility led to the State having to seek a private bailout from companies. This in turn, crashed the Euro, causing it to collapse. The French Government considered all options, including the demolition of the facilities, Increasing Taxes on Wealthy Investors, and Borrowing More Money from the United States. All were ruled out as there was no money in Italy, nor elsewhere. Early Crisis: A Changing World (2027-2032) Political Turmoil The United States, which has been in a state of economic decline since the 1980s, was one of the first countries to demand change. Protests were held throughout the Country, demanding a change to the system, and to a change in Government. Marco Rubio, a Republican from Florida, had won the election in 2028, seen as a Law and Order Candidate by Much of the country, and a valuable asset to the new power structure Rubio was not elected legitimately. He defeated a relatively unknown candidate named Daniel Andersen, who had become a voice of the American People almost overnight, and the leader of the Left-Wing Movement in America. European Officials began preparing for the Collapse of the Euro. The Currency, became worthless in 2029 and was ultimately, laid down in favor of individual currencies. Germany became fed up with the political stalemate. In a Crisis that nearly dragged the country into a civil war, German Chancellor Karl Von Wagner (Von-Vog-N-er) Called for Restraint, and became desperate in his attempts to save Germany. Yugoslavic Wars Main Article: Second Yugoslav War In 2030, the Socialist Party that based itself in Serbia took control of the country in a massive coup that killed 300 people. The Parties Leader, Began an intense Campaign to reunify Yugoslavia, claiming that the West had abandoned them and that this, was the only way to solve their problem. By 2032, Yugoslavia had been reconstituted. The Titoist State, thought to have fallen, was re-established. The War, and other political events signified the shift of politics in the world. Left-Wing movements grew in size and number, and were ready to take the fight into their own hands. American Progress In 2030, 300,000 Americans took to the streets, demanding change. New York, Washington, Philadelphia, Chicago, Boston, Detroit, Los Angeles, and Seattle, became the forefront of the change that was occurring. The Revolution they ignited led to the election of Daniel Andersen in 2032. Andersen Promised to Make the System Better, by passing Economic Relief Packages Known as the American Economic Improvement and Prosperity Act (AEIPA), which saw the shut down portions of the New Deal, Modernized and Reinstated. FDR's Second Bill of Rights, alongside a few other amendments were adopted in 2033. President Andersen began a campaign to stop Corporate Corruption, by Taxing them heavily, and encouraging them to remain in America by passing laws making it harder to outsource and move jobs overseas. This led to the return of many jobs to the U.S. and its surpassing of China as the world's largest economic superpower by 2036. China's War Comes to an End By 2037, the Second Chinese Civil War was coming to an end. South China began arming resistance through Korea, and launched a massive invasion into Manchuria. A Second Wave of troops came for East Turkestan and a Third Wave through Tibet. Category:Scenario: The Pearl World